MNI Bank of Korea Preview- Nov 2024, On Hold Amid FX Weakness
Nov-27 02:33By: Jamie Grant
South Korea
EXECUTIVE SUMMARY:
- Economic data has continued to moderate with GDP, CPI, Exports and Industrial Production lower.
- Due to a resurgent USD following the US election, the KRW has weakened by over 3% since the last BOK meeting.
- There are some early signs that the policies put in place to slow the Seoul property market is working.
- Several key voting members at the last monetary policy meeting indicated their preference for rates to remain on hold until 2025.
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